The PaymentCondition and PaymentTermTemplate entities can be used as standard entities. However, both the entities are related to each other whereby creating a record for one of the entity might create a record for the other entity.
The PaymentCondition entity has a parent-child (1 to many) relationship with the PaymentTermTemplate entity. Thus, if you create a record in PaymentCondition, it might or might not create a record in PaymentTermTemplate. This depends on the DueDateType value.
Set the DueDateType to any value except “9” (refer to Figure 1). A record will be automatically created in the PaymentTermTemplate entity with the TermPercentage property = 1.
Set the DueDateType value to “9”. No record will be created in the PaymentTermTemplate entity and you will have to manually create a record in the PaymentTermTemplate entity.
Date + Payment Term
Date -> End of the month -> Day of the month
Date -> End of the next month -> Day of the month
Date + Payment Term -> End of the month -> Day of the month
Date + Payment Term -> End of the next month -> Day of the month
Date + Payment Term -> x.end of the month -> Day of the month
Date + Payment Term (in months)
Date -> End of the month + X months
Invoice Date + Payment Term
Order Date + Payment Term
Fulfillment Date + Payment Term
Order Confirmation Date + Payment Term
More than one line can be created for the PaymentTermTemplate entity if the value of the PaymentCondition property is the same and refers to the PaymentConditionCode property in the PaymentCondition entity. For the lines that are created for the same PaymentCondition property, the total sum of the TermPercentage property must be “1” because the system does not provide validation on the TermPercentage property. For example,
In the example above, the TermPercentage column of 0.2 + 0.8 = 1